Diamondback Energy, Inc. (FANG) Revenue by Segment

Diamondback Energy revenue by segment at a glance

In Q3 fiscal 2024 (the quarter ended September 30, 2024), Diamondback Energy's largest business segment was Upstream Services, with $2.64 billion or 100% of revenue, up 13.3% from a year earlier. Next: All other segments (under 1%).

By product or service, Oil, Natural Gas, and Natural Gas Liquid brought in 87% and Oil Purchased brought in 13% of revenue in Q2 fiscal 2026.

By customer type, Midland Basin brought in 76%, Delaware Basin brought in 24% and Other Customer brought in under 1% of revenue in Q2 fiscal 2023.

From company filings, in USD; latest quarter ended September 30, 2024; quarterly data from Q3 fiscal 2017.

Diamondback Energy, Inc.

FANGEnergy

United States

Energy

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Upstream ServicesExploration and ProductionOil and Gas, Exploration and ProductionAll other segmentsMidstream ServicesMidstream OperationsNatural Gas, Midstream

Q3 FY24 breakdown

Fiscal quarter ended Sep 30, 2024

Item	Revenue	Share	vs year before	Trend
Upstream Services	USD 2.64B	99.7%	+13.3%
All other segments	USD 9.00M	0.3%	-30.8%

Sum of items USD 2.65B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18
Upstream Services	2.6B	2.5B	2.2B	2.2B	2.3B	1.9B	1.9B	2.0B	2.4B	2.8B	2.4B	–	1.9B	1.7B	1.2B	–	706.0M	412.0M	883.0M	–	–	–	–	–	–	–
Exploration and Production	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	957.0M	1.0B	843.0M	–	527.0M	–
Oil and Gas, Exploration and Production	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	516.0M
All other segments	9.0M	9.0M	9.0M	10.0M	13.0M	24.0M	21.0M	21.0M	18.0M	15.0M	17.0M	–	14.0M	–	–	–	–	–	–	–	–	–	–	–	–	–
Midstream Services	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	18.0M	19.0M	21.0M	–	49.0M	–
Midstream Operations	–	–	–	–	–	–	–	–	–	–	–	–	–	12.0M	12.0M	–	14.0M	13.0M	16.0M	–	–	–	–	–	–	–
Natural Gas, Midstream	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	50.0M

Diamondback Energy revenue by business segment, last 4 quarters

Business segment	Q3 FY24	Q2 FY24	Q1 FY24	Q3 FY23	Share
Upstream Services	$2.6B	$2.5B	$2.2B	$2.3B	100%
All other segments	$9.0M	$9.0M	$9.0M	$13.0M	under 1%

In USD, fiscal quarters as reported; share = part of Q3 FY24 revenue.

Diamondback Energy revenue by product or service, last 4 quarters

Product or service	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Oil, Natural Gas, and Natural Gas Liquid	$4.8B	$3.8B	$3.4B	$3.3B	87%
Oil Purchased	$739.0M	$385.0M	$459.0M	$335.0M	13%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Diamondback Energy revenue by customer type, last 4 quarters

Customer type	Q2 FY23	Q1 FY23	Q3 FY22	Q2 FY22	Share
Midland Basin	$1.4B	$1.5B	$1.7B	$2.0B	76%
Delaware Basin	$448.0M	$426.0M	$714.0M	$763.0M	24%
Other Customer	$2.0M	$1.0M	$4.0M	$4.0M	under 1%

In USD, fiscal quarters as reported; share = part of Q2 FY23 revenue.

Questions and answers

What are Diamondback Energy's business segments?

Upstream Services and All other segments (as reported for Q3 fiscal 2024).

Which business segment makes the most money for Diamondback Energy?

Upstream Services: $2.64 billion, or 100% of revenue, in Q3 fiscal 2024.

What are Diamondback Energy's main products and services?

By revenue in Q2 fiscal 2026: Oil, Natural Gas, and Natural Gas Liquid (87%) and Oil Purchased (13%).

MoreDiamondback Energy stock overview Diamondback Energy financials Diamondback Energy executive team Diamondback Energy shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.